TORONTO and DALLAS, Sept. 21, 2016 /CNW/ - Milestone Apartments Real Estate
Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today announced that it has filed a preliminary base shelf prospectus
with the securities regulatory authorities in each of the provinces and territories of Canada. The preliminary base shelf
prospectus has not yet become final for the purpose of the sale of securities. The intention of the base shelf prospectus is to
allow the REIT to more quickly access capital when market opportunities permit.
Once receipts for the final base shelf prospectus are obtained from the applicable securities regulators, the final base shelf
prospectus will be valid for a 25-month period, during which time the REIT may offer and issue, from time to time, trust units,
debt securities, warrants and subscription receipts, or any combination thereof, having an aggregate offering price of up to
C$750,000,000. Any issue of securities under the shelf prospectus will require the filing of a
prospectus supplement that will include the specific terms of the securities being offered.
No securities may be sold nor may offers to buy be accepted prior to the time at which receipts for the final base shelf
prospectus are obtained from the applicable securities regulators. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.
This news release does not constitute an offer to sell or the solicitation of an offer to buy in the
United States and the securities referred to in this news release may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or pursuant to an applicable
exemption from the registration requirements under the U.S. Securities Act of 1933 and applicable state securities laws.
About Milestone
The REIT is an unincorporated, open-ended real estate investment trust that is governed by the laws of Ontario. The REIT's portfolio consists of 72 multifamily garden-style residential properties, comprising
22,546 apartment units that are located in 14 major metropolitan markets throughout the Southeast and Southwest United States. The REIT is the largest real estate investment trust listed on the TSX focused solely
on the United States multifamily sector. Milestone's vertically integrated platform employs more
than 1,200 employees and manages more than 50,000 apartment units across the United States. For
more information, please visit www.milestonereit.com.
Forward-looking information
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating
to the business of the REIT and the environment in which it operates. Forward-looking statements are identified by words such
as "believe", "anticipate", "expect," "intend", "plan", "will", "may" and other similar expressions. Some of the specific
forward-looking statements in this news release include, but are not limited to, statements regarding whether the REIT will issue
additional securities pursuant to a prospectus supplement. Such statements are based on a number of assumptions and are subject to
a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results and events to
differ materially from those that are disclosed in or implied by such forward-looking information. There can be no assurance that
forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in
these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements.
Further, a forward-looking statement speaks only as of the date on which such statement is made. The REIT undertakes no obligation
to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
SOURCE Milestone Apartments REIT
Image with caption: "Milestone Apartments Real Estate Investment Trust (CNW Group/Milestone Apartments REIT)". Image available
at: http://photos.newswire.ca/images/download/20160921_C8305_PHOTO_EN_778992.jpg
